PUNJAB CO-OPERATIVE LAND
MORTGAGE BANKS (HARYANA AMENDMENT) ACT, 1973 THE PUNJAB CO-OPERATIVE LAND MORTGAGE BANKS
(HARYANA AMENDMENT) ACT, 1973 [Act No. 16 of 1973] [25th April, 1973] An Act to
amend the Punjab Co-operative Land Mortgage Banks Act, 1957. Be it
enacted by the Legislature of the State of Haryana in the Twenty-fourth Year of
the Republic of India as follows:-- This
Act may be called the Punjab Co-operative Land Mortgage short title. Banks
(Haryana Amendment) Act, 1973. In
sub-section (1) of Section 1 of the Punjab Co-operative Land Mortgage Banks
Act, 1957 (hereinafter referred to as the principal Act), for the word
"Mortgage", the word "Development" shall be substituted. In
section 2 of the principal Act,-- (i)
in clause (b), for the words "Mortgage
Bank", the words "Development Bank" shall be substituted; (ii)
for clause (d), the following clause shall be
substituted, namely:-- (d)
"Development Bank" means a Primary Land Development Bank or State
Bank registered or deemed to be registered under the Punjab Co-operative
Societies Act, 1961, for advancing long-term loans for the following purposes,
namely:-- (i)
land improvement and productive purposes; (ii)
erection, rebuilding or repairing of houses
for agricultural purposes; (iii) purchase or acquisition of title to agricultural lands by
tenants or agriculturists under the Haryana Ceiling on Land Holdings Act, 1972,
or any corresponding law for the time being in force; (iv)
liquidation of debts incurred by mortgaging
agricultural lands; (v)
development of animal husbandry. Explanation.--For
the purposes of this Act,-- (1)
long-term loan means a loan for a duration of
five years or more. (2)
land improvement and productive purposes mean
any work, construction or activity which adds to the productivity of the land
and, in particular, includes the following, that is to say? (a)
construction and repair of wells, including
tubewells, tanks and other works for the storage, supply or distribution of
water for the purpose of agriculture, or for the use of men and cattle employed
in agriculture; (b)
renewal or reconstruction of any of the
foregoing works, or alterations therein, or additions thereto; (c)
preparation of land for irrigation; (d)
drainage, reclamation from rivers or other
waters, or protection from floods or from erosion or other damage by water, of
land used for agricultural purposes, or waste land which is culturable; (e)
bunding and similar improvements; (f)
reclamation, clearance and enclosure or
permanent improvement of land for agricultural purposes; (g)
horticulture; (h)
purchase of persian wheels, oil-engines,
pumping sets and electrical motors for any of the purposes mentioned herein; (i)
purchase of tractors, implements or other
agricultural machinery; (j)
increase of the productive capacity of land
by addition to it of special variety of soil; (k)
construction of permanent farm-houses,
cattle-sheds and sheds for processing of agricultural produce at any stage; (l)
purchase of machinery for crushing sugarcane,
manufacturing (Agur or khandsari or sugar); (m)
such other purposes as the Board may declare
to be land improvement or productive purpose for the purposes of this
clause."; (iii)
in clause (f), for the words "Mortgage Bank" occurring twice, the
words "Development Bank" shall be substituted; and (iv)
in clause (h), for the words "Mortgage Bank", the words
"Development Bank" shall be substituted. In
section 4 of the principal Act, for the words "Mortgage Banks", the
words "Development Banks" shall be substituted. In
section 7 of the principal Act, for the words "Mortgage Banks", the
words "Development Banks" shall be substituted. In
section 9 of the principal Act, for the words "Mortgage Banks", the
words "Development Banks" shall be substituted. After
Chapter III, the following new Chapter shall be inserted, namely:-- "CHAPTER III-A ADVANCEMENT OF LOANS AND RECOVERY THERETO 11A.
Power of Land Development Banks to advance loans and to hold lands.-- Subject
to the provisions of this Act and the rules made thereunder, it shall be
competent for the Land Development Banks to advance loans for the purposes
referred to in clause (d) of section 2 and to hold lands transferred to them
under the provisions of this Act. 11B.
Power of Land Development Banks where mortgaged property is destroyed or
security becomes insufficient.-- Where
any property mortgaged to a Land Development Bank is wholly or partially
destroyed, or for any reason the security is rendered insufficient and the
mortgagor, having been given a reasonable opportunity by the Bank to provide
further security in order to make the deficiency good, or to repay such portion
of the loan as may be determined by the Bank, has failed to provide such
security or to repay such portion of the loan, the whole of the loan shall be
deemed to fall due at once, and the Bank shall be entitled to take action
against the mortgagor under section 12 or section 15 for the recovery thereof. Explanation.--Security
shall be deemed to be insufficient within the meaning of this section, unless
the value of the mortgaged property, including in provements made thereon,
exceeds the amounts for the time being due on the mortgage by such proportion as
may be specified in the rules or regulations made under this Act or the
bye-laws of the Land Development Bank. 11C.
Recovery of loans by Land Development Banks.-- (1)
When a loan advanced by a Land Development
Bank is not utilised for the purpose for which it was advanced, the Bank may,
irrespective to the period for which the loan was advanced, recall and recover
the entire loan along with interest and costs and charges, if any, incurred in
advancing and effecting recovery, after giving the debtor an opportunity of
being heard. (2)
All loans granted by the Land Development
Banks, all interests, if any, chargeable thereon, and costs, if any, incurred
in making the same, shall, when they become due, be recoverable by the Land
Development Bank concerned. Explanation.--For
the purposes of sub-section (1), whether the loan has or has not been utilised
for the purpose for which it was advanced, the decision of the committee shall
be final. 11D.
Recovery of loans on certificate by Registrar.-- (1)
Notwithstanding anything contained in any
other law for the time being in force, on an application made by a Land
Development Bank for the recovery of arrears of any sum advanced by it to any
of its members and on its furnishing a statement of account in respect of the arrears,
the Registrar may, after making such enquiries as he deems fit, grant a
certificate for the recovery of the amount stated therein to be due as arrears. (2)
A certificate by the Registrar under
sub-section (1) shall be final and conclusive as to the arrears due. The
arrears stated to be due therein shall be recoverable according to the law for
the time being in force for the recovery of arrears of land revenue. (3)
It shall be competent for the Registrar or a
person authorised by him to direct conditional attachment of the property of
the mortgagor until the arrears due to the Land Development Bank together with
interest and any incidental charges incurred in the recovery of such arrears,
are paid or security for payment of such arrears is furnished to the satisfaction
of the Registrar and the provisions of section 65 of the Punjab Co-operative
Societies Act, 1961, shall apply mutatis mutandis to conditional attachment of
any property made or to be made under this section. 11E.
Collector to make recoveries during certain period.-- (1)
During such period as the State Government
may, by general or special order notify in the official Gazette, it shall be
competent for the Collector, or application being made to him in this behalf by
the Land Development Bank, to recover all sums, including the costs of such
recovery, which he may find due to the Land Development Bank, after making such
enquiry as he may deem fit. (2)
Any amount due to a Land Development Bank
shall be recoverable by the Collector, or any officer specially authorised by
the Collector in this behalf, in all or any of the following modes, namely:-- (a)
from the borrower, as if these were arrears
of land revenue due by him; (b)
out of the land for the benefit of which the
loan has been granted as if these were arrears of land revenue due in respect
of that land; (c)
from a surety, if any, as if these were
arrears of land revenue due by him; and (d)
out of the property comprised in the
collateral security, if any, according to the procedure for the realisation of
land revenue by the sale of immovable property other than the land on which
land holding tax is due.". In
sub-section (1) of section 12 of the principal Act,-- (a)
for the words "two consecutive
instalments", the words "an instalment" shall be substituted;
and (b)
for the word "instalments"
occurring twice, the word "instalment" shall be substituted. In
sub-section (2) of section 14 of the principal Act, for the words "one
anna", the words "ten paise" shall be substituted. In
clause (c) of sub-section (2) of section 15 of the principal Act, for the words
"six months", the words "thirty days" shall be substituted. In
section 21 of the principal Act and the marginal heading thereto, for the words
"Mortgage Bank", the words "Development Bank" shall be
substituted. In
sub-section (1) of section 22 of the principal Act, for the words
"Mortgage Bank", the words "Development Bank" shall be
substituted. In
section 23 of the principal Act, for the words "Mortgage Bank," the
words "Development Bank" shall be substituted. In
section 25 of the principal Act and the marginal heading thereto, for the words
"Mortgage Bank" wherever occurring, the words "Development
Bank" shall be substituted. In
section 26 of the principal Act, for the words "Mortgage Bank"
wherever occurring, the words "Development Bank" shall be
substituted. In
section 27 of the principal Act, for the words "Mortgage Bank" the
words "Development Bank" shall be substituted. In
section 28 of the principal Act, for the words "Mortgage Bank"
occurring twice, the words "Development Bank" shall be substituted. In
section 29 of the principal Act, for the words "Mortgage Bank", the
words "Development Bank" shall be substituted. In
section 30 of the principal Act and the marginal heading thereto, for the words
"Mortgage Bank" wherever occurring, the words "Development
Bank" shall be substituted. In
sub-section (1) of section 31 of the principal Act, for the words and figure
"the Punjab Co-operative Societies Act, 1954", the words and figure
"the Punjab Co-operative Societies Act, 1961" shall be substituted. In
section 32 of the principal Act,-- (a)
in the marginal heading, for the words
"Mortgage Bank", the words "Development Bank" shall be
substituted; and (b)
in sub-section (1), for the words
"Mortgage Bank", the words "Development Bank" shall be
substituted. In section
33 of the principal Act and the marginal heading thereto, for the words
"Mortgage Bank" wherever occurring, the words "Development
Bank" shall be substituted. In
section 34 of the principal Act, for the words "Mortgage Bank" the
words "Development Bank" shall be substituted. In
section 35 of the principal Act, for the words "Mortgage Bank", the
words "Development Bank" shall be substituted. In
section 37 of the principal Act and the marginal heading thereto, for the words
"Mortgage Bank" and "Mortgage Banks", the words
"Development Bank" and "Development Banks" respectively,
shall be substituted. After
section 38 of the principal Act, the following new sections shall be inserted,
namely:-- "38A.
Provision for guarantee funds to meet certain losses.-- (1)
It shall be competent for the State
Government to constitute one or more guarantee funds on such terms and
conditions, as it may deem fit, for the purpose of meeting losses that might
arise as a result of loans being made by the Land Development Banks on titles
to immovable property subsequently found to be defective or for any other
purpose under this Act, for which in the opinion of the State Government, it is
necessary to provide for or create a separate guarantee fund. (2)
The State Bank and the Primary Land
Development Banks shall contribute to such funds at such rate as may be
prescribed, and the constitution, maintenance and utilisation of such funds
shall be governed by such rules as may be made by the State Government in this
behalf. 38B.
Employees of Land Development Bonks and Government servants to be public
servants.-- Every
employee of a Land Development Bank or a Government servant engaged in the
recovery of loans advanced by the Land Development Bank shall be deemed to be a
public servant within the meaning of section 21 of the Indian Penal Code. 38C.
Construction of references to Land Mortgage Banks in existing law and
instruments or document.-- (1)
Any references to the expression "Land
Mortgage Bank" with its grammatical variations and cognate expressions, if
any, in an existing law or any instrument or document shall, unless the context
otherwise requires, be construed as if reference therein to that expression
were references to the expression "Land Development Bank" with the corresponding
grammatical variations and cognate expressions, if any. (2)
With effect from the commencement of the
Punjab Co-operative Land Mortgage Banks (Haryana Amendment) Act, 1973, and
until such name or names of the Land Mortgage Banks and the societies
functioning in the State at the commencement of that Act are changed into Land
Development Banks, all acts done by them or mortgages and other documents
executed by them, or in their favour and all suits and other proceedings filed
by or against them shall be deemed to have been done, executed or filed, as the
case may be, by or against them as Land Development Banks. Explanation.--For
the purposes of this section "existing law" means any enactment of a
Legislature or other competent authority in relation to matters specified in
Lists II and III in the Seventh Schedule to the Constitution of India in force
in any part of the State of Haryana immediately before the commencement of the
Punjab Co-operative Land Mortgage Banks (Haryana Amendment) Act, 1973, and
includes any rule, bye-law, regulation, order, notification, scheme, form or
other instrument having the force of law made, prescribed or issued under any
such enactment.". After
clause (viii) of sub-section (2) of section 39 of the principal Act, the
following clause shall be inserted, namely:-- "(ix)
all matters in respect of which rules are expressly required or allowed by this
Act to be made.". In
section 40 of the principal Act,-- (a)
for the words and figure "the Punjab
Co-operative Societies Act, 1954", the words and figure "the Punjab
Co-operative Societies Act, 1961" shall be substituted; and (b)
for the words "Mortgage Banks"
wherever occurring, the words "Development Banks" shall be
substituted. In
section 41 of the principal Act and the marginal heading thereto, for the words
"Mortgage Banks", the words "Development Banks" shall be
substituted.
Preamble - PUNJAB CO-OPERATIVE LAND MORTGAGE
BANKS (HARYANA AMENDMENT) ACT, 1973PREAMBLE